More HDB resale flats sold in March, prices increase 0.3% from February: SRX

Blocks of HDB housing flats around Whampoa.
Blocks of HDB housing flats around Whampoa. PHOTO: ST FILE

SINGAPORE - More Housing Board resale flats exchanged hands in March with a 75.4 per cent increase in sales from February, while prices increased 0.3 per cent, SRX Property said in a media flash report on Thursday (April 6).

March saw 1,910 HDB resale flats sold, while 1,089 units were transacted the month before.

While resale prices increased 0.3 per cent from February to March, prices were 0.1 per cent lower than the same period last year.

Resale prices for HDB Executive flats increased the most, by 1.7 per cent from February, while resale prices for three-room flats decreased by 0.7 per cent.

Four- and five-room HDB flats saw a 0.3 per cent increase in resale prices.

Mature estates saw a slightly higher increase in HDB resale prices at 0.3 per cent, while non-mature estates' prices increased by 0.2 per cent, SRX said.

Bishan posted the highest median Transaction Over X-Value (T-O-X) in March. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value's estimated market value.

Bishan reported a positive $12,000 T-O-X, which means the majority of buyers purchased units in the estate above the computer-generated market value.

The estate with the second-highest T-O-X was Clementi, with positive $11,500.

Among HDB estates with more than 10 resale transactions with T-O-X, Jurong East had the lowest median T-O-X, at negative $13,000, followed by Choa Chu Kang at negative $6,000.